A Charitable Channel for Your Clients
The Aviva Jewish Housing Foundation is a single, flexible and convenient vehicle for your clients to perform charitable giving that truly makes a difference.
Your client can choose one or a combination of plans to fulfill a philanthropic dream, all while helping a worthwhile cause.
Identifying Clients Who Will Benefit
You may wish to discuss our Foundation and its mission with clients who:
- Plan to sell a private company
- Have high capital gains tax exposure
- Are in a “transition” phase of life – empty nest, retirement, estate planning, etc.
- Want to grow their charitable contributions tax-free over time
- Want a charitable deduction now with the flexibility to make grants in the future
- Have a desire to give back to seniors in their community
- Want to leave a legacy for future generations
- Enjoy meeting like-minded donors
The Aviva Jewish Housing Foundation can support you as a professional advisor by providing:
- Personalized illustrations to present to your clients, for vehicles from gift annuities to charitable lead trusts.
- Review of fund documents to be sure how to best meet your clients’ wishes.
Planned Giving with the Aviva Jewish Housing Foundation
One of the easiest and most popular ways to make a significant gift to the Aviva Jewish Housing Foundation is through a simple bequest in your will or trust agreement for a specific dollar amount, a specific asset or a percentage of your estate. You can also name the Foundation as a contingent beneficiary if a primary beneficiary is not available to accept an inheritance. Bequest donations can be changed by you at any time and will not reduce your assets or income during your lifetime – and are not subject to estate tax.
Sample Bequest Language
- Bequest of Cash
“I bequeath the sum of $10,000 to the Aviva Jewish Housing Foundation.”
- Bequest of a Percent of the Estate
“I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal and wherever located, to the Aviva Jewish Housing Foundation.”
- Contingent Bequest
“If my brother/sister __________ survives me, I devise and bequeath 20% of the remainder and residue of property owned at my death, whether real or personal and wherever located, to John Doe. If John Doe does not survive me, then I devise and bequeath 20% of my residuary estate, whether real or personal property and wherever located, to the Aviva Jewish Housing Foundation.”
Bequests without conditions provide the Aviva Jewish Housing Foundation the greatest flexibility, allowing us to leverage the gift where it’s most needed and most strategic.
If you participate in a 401(k) plan, a 403(b) plan, an IRA, or similar retirement plan, you have the ability to designate the Aviva Jewish Housing Foundation as a beneficiary of a portion or the remainder of your plan account. You can do this by filling out a designation form obtained from your plan administrator. Deferred retirement income can be taxed very heavily if it is left to anyone but a legally married spouse. Since retirement plans can be a very expensive inheritance for your heirs, your retirement savings can be an excellent asset to give to charity. In addition, it gives you flexibility since the designation can be modified or revoked by you during your lifetime.
Some of the best things you can gift to the Aviva Jewish Housing Foundation are stocks, bonds or shares of mutual funds that you own. By making a lifetime gift of appreciated stock that you have owned for at least 12 months, you are entitled to an immediate income tax deduction equal to the full value of the stock – and you avoid capital gains tax. Simply instruct your broker to transfer the stock to the Foundation’s brokerage account. Contact us for additional details.
You can transfer cash, stock or real estate to the Aviva Jewish Housing Foundation in return for level lifetime income payments to you and/or your spouse, or to another relative or friend. The annual annuity payment rate depends on the age(s) of the individuals who will receive the payments. In most cases, a portion of each annuity payment is tax-free. Payments remain at the same level regardless of future fluctuations in the market and interest rates. After the last lifetime payment, the remainder is transferred to the Foundation’s endowment for the support of Aviva. You are entitled to an immediate income tax deduction of the remainder value and elimination of a part of any capital gain built into any appreciated assets used to fund the gift annuity.
Charitable Remainder Trust
A charitable remainder trust has several features that are not present in a charitable gift annuity, including: (1) the ability to set annual payments at a fixed amount or a variable amount, (2) more flexibility when selecting a payment rate, (3) in certain cases, the ability to add more assets to the trust at a later time, and (4) in certain cases, the ability to start payments at a low level and increase them at a future time, such as at retirement.
An existing life insurance policy can be gifted to the Aviva Jewish Housing Foundation through a simple assignment form. You receive an immediate income tax deduction in the approximate amount of the cash surrender value and you can deduct any premium paid by you after the gift is made. You can also gift a new policy to the Foundation and deduct future premium payments. It is possible to set up a new policy that is fully paid after only seven annual premium payments. Policy proceeds from an existing or new policy generally create a large gift that will benefit Aviva without being subject to probate or estate taxes.
The Aviva Jewish Housing Foundation staff can assist you by arranging to pick up your vehicle and provide you with paperwork necessary for you to take a charitable tax deduction.
A gift of a house, condo, commercial property or land generally will provide an immediate income tax deduction equal to appraised fair market value and also avoid tax on any built-in capital gains. Deductions in excess of 30% of adjusted gross income can be carried over for up to 5 additional years. It is also possible to give a remainder interest in a residence and continue to live in or use the residence for the remaining lives of you and your spouse. You are entitled to a significant immediate income tax deduction equal to the remainder value of your residence. The older you are, the greater the amount of the deduction.